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FTSE 250 movers: Synthomer slides, Airtel ascends
25th Oct 2019 14:12
(Sharecast News) - London's FTSE 250 was 0.87% lower at 16,977.82 in afternoon trade on Friday, with Synthomer leading the index downward.
The British chemicals business's shares tumbled after it warned that full-year underlying pre-tax profit would come in below current consensus expectations if depressed European industrial activity and increased political and economic uncertainties continued in the fourth quarter.
Analysts from Canaccord said: "The source of the disappointment is the SBR market, and in particular sales into the European paper industry. The company has been affected by two issues: the general slowdown, and specific issues with the closure of two customer paper mills and the withdrawal of credit insurance from others."
Ascential fell after saying that the Money 20/20 China event had been deferred and would not take place this year.
Essential components and solutions provider Essentra was also in the red after reporting a drop in like-for-like revenues during the third quarter as a result of some short-term Brexit concerns and a tougher macroeconomic environment.
Hammerson was lower after analysts at UBS cut their rating of the stock from 'neutral' to 'sell', while Stagecoach dropped after analysts at Canaccord cut sales and profit forecasts due to lower-than-expected revenue growth and some cost headwinds for the regional bus division.
Up at the other end of the index, Airtel Africa led the risers after it reported sustained growth across its voice data and mobile money operations in its interim results on Friday, as its customer base grew by 10.4% to 104 million.
Finally, Hochschild Mining rose after analysts at Berenberg hiked their price target for the stock from 180p to 190p.
Market Movers
FTSE 250 (MCX) 19,977.82 -0.87%
FTSE 250 - Risers
Airtel Africa (AAF) 59.85p 6.88%
Morgan Advanced Materials (MGAM) 241.80p 4.04%
Centamin (DI) (CEY) 118.33p 2.63%
Network International Holdings (NETW) 536.00p 2.10%
Mitchells & Butlers (MAB) 410.50p 1.86%
Hochschild Mining (HOC) 199.00p 1.79%
AVI Global Trust (AGT) 733.00p 1.66%
Ferrexpo (FXPO) 131.30p 1.51%
PayPoint (PAY) 904.00p 1.46%
Dixons Carphone (DC.) 138.15p 1.39%
FTSE 250 - Fallers
Synthomer (SYNT) 273.22p -11.75%
IP Group (IPO) 57.56p -5.79%
Essentra (ESNT) 399.50p -5.56%
Ascential (ASCL) 345.20p -5.06%
Hunting (HTG) 400.08p -4.74%
Elementis (ELM) 144.40p -4.24%
Hammerson (HMSO) 303.70p -4.01%
Riverstone Energy Limited (RSE) 490.50p -3.82%
Bank of Georgia Group (BGEO) 1,257.00p -3.38%
Stagecoach Group (SGC) 138.20p -3.36%
The British chemicals business's shares tumbled after it warned that full-year underlying pre-tax profit would come in below current consensus expectations if depressed European industrial activity and increased political and economic uncertainties continued in the fourth quarter.
Analysts from Canaccord said: "The source of the disappointment is the SBR market, and in particular sales into the European paper industry. The company has been affected by two issues: the general slowdown, and specific issues with the closure of two customer paper mills and the withdrawal of credit insurance from others."
Ascential fell after saying that the Money 20/20 China event had been deferred and would not take place this year.
Essential components and solutions provider Essentra was also in the red after reporting a drop in like-for-like revenues during the third quarter as a result of some short-term Brexit concerns and a tougher macroeconomic environment.
Hammerson was lower after analysts at UBS cut their rating of the stock from 'neutral' to 'sell', while Stagecoach dropped after analysts at Canaccord cut sales and profit forecasts due to lower-than-expected revenue growth and some cost headwinds for the regional bus division.
Up at the other end of the index, Airtel Africa led the risers after it reported sustained growth across its voice data and mobile money operations in its interim results on Friday, as its customer base grew by 10.4% to 104 million.
Finally, Hochschild Mining rose after analysts at Berenberg hiked their price target for the stock from 180p to 190p.
Market Movers
FTSE 250 (MCX) 19,977.82 -0.87%
FTSE 250 - Risers
Airtel Africa (AAF) 59.85p 6.88%
Morgan Advanced Materials (MGAM) 241.80p 4.04%
Centamin (DI) (CEY) 118.33p 2.63%
Network International Holdings (NETW) 536.00p 2.10%
Mitchells & Butlers (MAB) 410.50p 1.86%
Hochschild Mining (HOC) 199.00p 1.79%
AVI Global Trust (AGT) 733.00p 1.66%
Ferrexpo (FXPO) 131.30p 1.51%
PayPoint (PAY) 904.00p 1.46%
Dixons Carphone (DC.) 138.15p 1.39%
FTSE 250 - Fallers
Synthomer (SYNT) 273.22p -11.75%
IP Group (IPO) 57.56p -5.79%
Essentra (ESNT) 399.50p -5.56%
Ascential (ASCL) 345.20p -5.06%
Hunting (HTG) 400.08p -4.74%
Elementis (ELM) 144.40p -4.24%
Hammerson (HMSO) 303.70p -4.01%
Riverstone Energy Limited (RSE) 490.50p -3.82%
Bank of Georgia Group (BGEO) 1,257.00p -3.38%
Stagecoach Group (SGC) 138.20p -3.36%